[Adopted 6-19-1974 by L.L. No. 4-1974 as
Chapter 58 of the 1974 Code; amended in its entirety 10-26-1983 by L.L. No.
4-1983]
[Amended 10-17-1990 by L.L. No. 4-1990]
Real property owned by one or more persons,
each of whom is 65 years of age or over, or who is to become 65 years
of age during the calendar year, or real property owned by husband
and wife, one of whom is 65 years or over, or who is to become 65
years of age during the calendar year, shall be exempt from taxation
to the extent hereinafter set forth, provided that application is
made and filed before March 1 (the taxable status date).
Exemption from taxation for school purposes
shall not be granted in the case of real property where a child resides
if such child attends a public school of elementary or secondary education.
[Amended 10-17-1990 by L.L. No. 4-1990; 10-12-1994 by L.L. No. 10-1994; 2-21-1996 by L.L. No. 1-1996; 1-15-1997 by L.L. No.
1-1997; 12-13-2000 by L.L. No. 11-2000; 2-19-2003 by L.L. No.
2-2003; 2-18-2004 by L.L. No. 1-2004; 4-11-2007 by L.L. No.
2-2007]
A.
Pursuant to the provisions of the Real Property Tax
Law, the real property owned by one or more persons, each of whom
is 65 years of age or over, shall be exempt from taxation up to a
maximum of 50% of the assessed valuation thereof, as hereinafter provided.
B.
All of the provisions, conditions and requirements of § 467
of the Real Property Tax Law and amendments thereto shall apply to
the application for and the granting of such exemption on the assessment
rolls of the Town as they apply to the Town of Putnam Valley except
that no exemption shall be granted if the income of the owner or the
combined income of the owners of the property for the income tax year
immediately preceding the date of making application for exemption
is: for the year 2023, the sum of $48,400 or more; for the year 2024,
the sum of $53,400 or more; for the year 2025, the sum of $58,400
or more.
[Amended 2-15-2023 by L.L. No. 1-2023]
C.
Real property owned by persons 65 years or over shall be exempt from
certain Town taxes up to a maximum of 50% of the assessed valuation
pursuant to the following schedule:
[Amended 2-15-2023 by L.L. No. 1-2023]
(1)
For the year 2023:
|
Annual Income
|
Percentage of Assessed Value Exempt From Taxation
|
|---|---|
|
$40,000 and less
|
50%
|
|
More than $40,000 but less than $41,000
|
45%
|
|
More than $41,000 but less than $42,000
|
40%
|
|
More than $42,000 but less than $43,000
|
35%
|
|
More than $43,000 but less than $43,900
|
30%
|
|
More than $43,900 but less than $44,800
|
25%
|
|
More than $44,800 but less than $45,700
|
20%
|
|
More than $45,700 but less than $46,600
|
15%
|
|
More than $46,600 but less than $47,500
|
10%
|
|
More than $47,500 but less than $48,400
|
5%
|
(2)
For the year 2024:
|
Annual Income
|
Percentage of Assessed Value Exempt From Taxation
|
|---|---|
|
$45,000 and less
|
50%
|
|
More than $45,000 but less than $46,000
|
45%
|
|
More than $46,000 but less than $47,000
|
40%
|
|
More than $47,000 but less than $48,000
|
35%
|
|
More than $48,000 but less than $48,900
|
30%
|
|
More than $48,900 but less than $49,800
|
25%
|
|
More than $49,800 but less than $50,700
|
20%
|
|
More than $50,700 but less than $51,600
|
15%
|
|
More than $51,600 but less than $52,500
|
10%
|
|
More than $52,500 but less than $53,400
|
5%
|
(3)
For the year 2025:
|
Annual Income
|
Percentage of Assessed Value Exempt From Taxation
|
|---|---|
|
$50,000 and less
|
50%
|
|
More than $50,000 but less than $51,000
|
45%
|
|
More than $51,000 but less than $52,000
|
40%
|
|
More than $52,000 but less than $53,000
|
35%
|
|
More than $53,000 but less than $53,900
|
30%
|
|
More than $53,900 but less than $54,800
|
25%
|
|
More than $54,800 but less than $55,700
|
20%
|
|
More than $55,700 but less than $56,600
|
15%
|
|
More than $56,600 but less than $57,500
|
10%
|
|
More than $57,500 but less than $58,400
|
5%
|
D.
The income of the owner or the combined income of the owners of the
property for the income tax year immediately preceding the date of
the application for exemption from all sources, as set forth in § 467,
must be less than $48,400 for the year 2023; $53,400 for the year
2024; and $58,400 for the year 2025. "Income tax year" shall mean
the twelve-month period from which the owner or owners file a federal
personal income tax return or, if no such return is filed, the calendar
year. When title is vested in either the husband or wife, the combined
income of both may not exceed such sum.
[Amended 2-15-2023 by L.L. No. 1-2023]
E.
This article shall apply to the assessment roll as follows:
[Amended 2-15-2023 by L.L. No. 1-2023]
[Amended 4-15-1998 by L.L. No. 5-1998]
No exemption shall be granted unless the applicant
meets all of the requirements found in Real Property Tax Law § 467.
A.
The Town shall notify or cause to be notified each
person owning residential real property in the Town of the provisions
of this article. The provisions of this section may be met by a notice
or legend sent on or with each tax bill to such persons reading, "You
may be eligible for senior citizen tax exemptions. For information,
please call or write your Town Assessor at your Town Hall." Failure
to notify or cause to be notified any person who is in fact eligible
to receive the exemption provided by this section or the failure of
such person to receive the same shall not prevent the levy, collection
and enforcement of the payment of the taxes on property owned by such
person.
B.
Application for such exemption must be made by the
owner or all of the owners of the property on forms prescribed and
furnished by the Town Assessor's office, shall furnish the information
and be executed in the manner required or prescribed in such forms
and shall be filed in such Assessor's office on or before the taxable
status date of May 1.
C.
At least 60 days prior to the taxable status date
of May 1, the Town Assessor's office shall mail to each person who
was granted exemption pursuant to this section on the latest completed
assessment roll an application form and a notice that such application
must be filed on or before the taxable status date and be approved
in order for the exemption to be granted. Failure to mail any such
application form and notice or the failure of such person to receive
the same shall not prevent the levy, collection and enforcement of
the payment of the taxes on property owned by such person.
[Amended 4-15-1998 by L.L. No. 5-1998]
Any person who shall make willful false statement
in the application for such exemption shall be deemed to have violated
this article and be guilty of a violation subject to a fine of not
more than $250 or imprisonment for not more than 15 days, or both
such fine and imprisonment, and shall further be disqualified from
further exemption for a period of five years.
